FxWirePro- Major Crypto levels and bias summary 
U.S. Stock Futures Rise as Trump Takes Office, Corporate Earnings Awaited 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
UK Markets Face Rising Volatility as Hedge Funds Target Pound and Gilts 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Tempus AI Stock Soars 18% After Pelosi's Investment Disclosure 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Do investment tax breaks work? A new study finds the evidence is ‘mixed at best’ 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Busan, the second largest city in South Korea, has set out to work on achieving its goal of becoming a “Blockchain City.” The city will soon launch a public mainnet as part of its initiative for the project that has been described as “ambitious.”
The local government administration of Busan City is spearheading the massive project for the development and rollout of the Mainnet, which is a term used to refer to a blockchain protocol that has been fully developed and successfully deployed to the public. Busan is spending about KRW100 billion, or around $75 million, to realize its technologically advanced goal.
Moreover, it was mentioned that Busan is developing this public blockchain network to be compatible with major and most-used blockchain platforms such as Ethereum and Cosmos.
As per CoinTelegraph, the main objective of the city is to incorporate various types of blockchain-based services offered by different blockchain mainnets.
They will bring them all to a single platform that every user can easily access at the city level. With this system, Busan hopes it will be hailed as the blockchain hub. The allocated funds of $75 million will all be spent on the development so they can soon open the Blockchain City that will be compatible with not just local but global standards under the Blockchain Innovation Fund (BIF).
Busan officials said that they will raise the funds through investments from public financial institutions in the city, where almost 100 private companies have already shown great interest in the project.
Meanwhile, Cryptopolitan reported that aside from the mainnet, Busan City has more plans related to the blockchain. It is planning to introduce the Busan Digital Asset Exchange as well, and this may happen within the first half of 2024.
In the early stages, this exchange will support blockchain-based deals involving tokenized products like raw materials and precious metals. Later, the plan will include the tokenization and marketing of global intellectual property and carbon emissions rights.
Photo by: Sam Balye/Unsplash
